Bitcoin Finds A Price Level That Could Halt Its Decline

It seems like there has been no end to the drop in the price of Bitcoin (CRYPTO: BTC) since the high of November 2021, slumping almost 60% during that time. May, so far, has brought a 14% drop, taking the price back to the June 2021 level of $30,000. 

The price of the daddy of the cryptocurrency world is now at a very interesting level — one that could hold firm and give momentum back to the bulls. 

Below is the weekly time frame. 

I have added the major support and resistance levels, clearly showing the price has been trading inside a long-term range (also known as a consolidation or sideways market). The high is from …

Full story available on Benzinga.com

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